A better platform for realtors — the bundle, disruptively priced.

1.44M dues-paying agents. $2.57B TAM, one plan.

1,438,569 members × 12 × $149 ≈ $2,572,161,372. Not a card-only product, so the card-only price floor ($5–10/mo) isn't the relevant anchor — see §03 for why $149 is still well below every full-featured competitor. Brokerage & Teams is priced per office and excluded from this table entirely — see the flag below.

$8 to $3,500+/mo — and several of the priciest hide the number entirely.

Sourced 2026-08-11 — company pricing pages where published; third-party estimates (industry review sites, reseller/consultant pages) explicitly labeled Estimated where the vendor gates pricing behind a demo or sales call, which several of the largest names in this category do by design.

One plan. One templated engine, configured by our team — never DIY.

• Self-serve checkout, team-configured setup — nobody has to sit through a demo to buy, unlike kvCORE/BoldTrail's custom quote, but nobody hands the agent a DIY builder either; outbound calling finds the agent, Closing Boss's team does the setup
• $0 setup fee — a real change from the $250 this document used to charge; the custom-designed site and MLS connection are covered by the $149/mo base price instead
• KeyRingOS, included — manage clients, send them links, track activity, and send the deal's own paperwork through KeyRingOS's own e-signature engine — not a separate purchase, and not a vendor pass-through, like every competitor in §03
• One dashboard — card, site, CRM and documents share one profile and one set of rules

The full feature set — one dashboard, not four vendors.

One plan, everything above included — no feature is gated behind a second tier.

Better software. Disruptive pricing. Higher margins.

One-to-many multi-tenant.

• Hosting — Render, matching every other LFG platform
• Payments — Stripe or Square — not yet finalized; programmatic lockout on failed payment either way
• Data — SimplyRETS as the universal translator between boards and app
• Email — Resend, transactional and marketing sends alike — nurture sequences, campaigns, notifications
• AI / inference — vision-capable model for document classification and field-detection (§04, spec.html §03); vendor not yet selected — see §12
• E-signature — built in-house, not a vendor SDK — signer routing, consent flow, audit trail (§09, §12)

Tenant routing & provisioning — plan, not built

Written down now so the shape is settled before agent #2 signs up. The app itself is still fixture-only today — one hardcoded agent identity, no real tenant table, no auth yet.

The actual heavy lift isn't the subdomain routing above — it's giving every fixture-backed concept in the wireframed app (contacts, activities, documents, campaigns, alerts) a real tenant-scoped table with RLS, the same pattern already proven on one real table today (showcase_overrides). Running that same shape everywhere else is most of the real build.

One plan, $149/mo. No setup fee anymore.

Concentrated — agents share one board

Every agent still carries their own $25/mo IDX pass-through (revenue), but the whole group shares one $49/mo board subscription (cost) instead of paying for a new one each — the MLS cost column never grows past the first board's $49/mo here, which is the entire reason concentrated beats scattered at the same agent count.

Scattered — every agent on a different board

SimplyRETS' own board-connection cost is per board, not per agent, and is a tier chosen for feature coverage, not a figure that creeps up with volume on its own — corrected here from an earlier looser reading of "$49→$99→$199 as volume scales." The $99 one-time per board stays a Closing Boss cost, not passed to the agent, in the tables above.

Month by month, adjustable — not one fixed scenario.

Year 1 — months 1–12

Year 2 — months 13–24

Year 3 — months 25–36

Months run across, metrics run down — "New" and "Churned" are both monthly flow, not cumulative. Income = recurring MRR (every active agent at the plan price plus the MLS pass-through fee) + the one-time setup fee on new signups that month. Expenses are itemized — marketing, offshore sales team, offshore support team (each 1 FTE at the stated agents-per-FTE ratio, stepping up a whole FTE at a time, not fractional hires), other (hosting/infra/legal/tools), CEO salary starting Year 2, and Dave's own commission on his attributed signups only — not a replacement for the real, committed Year 1 budget in §09, but the live version of the same shape. No LFG royalty or cost-based fee on top of any of this — LFG's return is the CEO salary above plus the majority equity stake in §11, not a separate revenue line.

$50,000 to launch. Then a year of running it.

One-time — the build, $50,000

• Development — cost-plus build: template engine, CRM, card, dashboard
• E-signature engine — built in-house: signer routing, ESIGN Act/UETA-compliant consent flow, tamper-evident audit trail, certificate of completion — not a vendor SDK
• MLS / SimplyRETS integration + pilot board
• Hosting & infra setup
• AI / inference — build and testing, including document field-detection
• Legal — entity, JV / operating agreement, trademark search, e-signature compliance review
• Domain & brand assets
• Contingency

This is also the founder's draw for the build. "Cost-plus" already means the developer's time is paid through this fee — not a separate salary line for the two months.

Year 1 of operations — running it, by category

Company months 3–14 — the 12 months after the 2-month build in the table above, not months 1–12. Pulled directly from §08's live model at its default assumptions (10 signups month 1, +5/mo ramp, 3% monthly churn) — a snapshot, not a separately-maintained number; change the assumptions in §08 and this table no longer matches until it's re-pulled.

Up from the $94,302 this table used to show — not because costs got worse, but because the offshore sales team and Dave's commission are now itemized here explicitly instead of being folded silently into a single "marketing" line. Month-by-month detail — all 12 months, every category, live and adjustable — is in §08, right after the cost matrix; this table is the annual rollup of the exact same model, not a separate estimate.

Four rules, hardcoded into every template.

• Mandatory brokerage branding — agent never appears independent; supervising brokerage name/logo on every card and page
• Source attribution — "Listing courtesy of [Brokerage]" on every third-party listing
• Data confidentiality — seller phone, lockbox codes, compensation notes stripped before render
• Sync cadence — feeds refresh at least every 12–24 hours

Three parties, one cap table.

Who's actually involved:

Exit — low churn once an agent's digital address is set. At ~500 subscribers (~$74,500/mo MRR at the $149/mo single-plan ARPU from §07 — the live model at §08 still runs on its own earlier default inputs; run it with $149/$0 setup for the fuller path there), enough data footprint to raise round two at a real valuation — see §09 for why 500 is also the support-scaling trigger. Decided — no permanent revenue royalty. LFG's return is running the company lean: a CEO salary (§09, starting Year 2) plus the majority equity stake below — real, not diluted away by a separate ongoing fee an acquirer would have to price in and negotiate out at exit. One clean mechanism, not two competing ones.

The sales lead's equity vests on results, not time.

Formula: 5% + (agents − 100) / (500 − 100) × 10%, clamped to the 5–15% range — run any agent count through the live calculator below to see the vested % and its dollar value at Seed A. Outside date: 24 months from the sales lead's start date. Whatever hasn't vested by then is never issued — it simply reverts to the unissued pool, available to reallocate if someone else ends up filling the role.

What this means in dollars — Seed A, one growth round, then exit

None of the three valuations are typed-in guesses — each is ARR × that stage's multiple, where ARR uses the actual ARPU from §08's live pricing inputs (plan price + MLS fee) × 12 × that stage's total agents. Change pricing in §08 and all three move with it. 8× and 6× are common-ish SaaS multiples for a growth round and an acquisition respectively, not researched numbers for this specific company — sanity-check against real comps before this goes in front of anyone. Exit's 4,000 agents matches the full SOM in §02 — the full-market-capture case, not a conservative one; the agent counts across all three stages aren't forced to match any single growth curve in §08, so check they're roughly consistent with whichever scenario you're actually assuming.

Read the two percentage columns to see the dilution itself happening — everyone's percentage drops between "at Seed A" and "after Series B," including LFG's, including Dave's, because a second round dilutes whoever's already on the cap table, not just the founders. "Dave — vested equity" uses the ramp formula above at the agent count you set — raise or lower it to see how much of his stake is actually real, not just the 15% ceiling. "$ at Seed A" is what a stake is worth the moment the round closes — percentage × Seed A's own post-money valuation, not the exit valuation — so it's a real, near-term number, not a projection years out. "$ at exit" uses the diluted post-Series-B percentage against the exit valuation, which is normally far larger than Seed A's — LFG's and Dave's percentage shrinking across two rounds is dilution working as intended, not a mistake, and that trade only pays off if the exit multiple on a much bigger ARR is worth more than the percentage given up to get there. Comparing "$ at Seed A" to "$ at exit" for the same party is the actual return on staying diluted through both rounds.

Cash commission, on top of equity — self-funding.

• A one-time bounty at signup — $50 per agent attributed to the sales lead, paid once
• A trailing residual — 8% of the monthly fee — same attributed agents only, for as long as each stays subscribed, not just at signup

8% is Dave's number alone now that LFG's royalty is gone — no longer chosen partly to avoid confusion with a second 10%, just a number sized on its own terms as a trailing sales commission.

• Decided — Dave fills the sales-lead role (§11), and separately invests $25,000 into the SAFE alongside the original $150,000, same terms — the two instruments kept structurally separate, not blended into one number
• Legal review of the whole §11 structure — the SAFE, the results-vested equity, and specifically keeping sales pay separate from any compensation for investor introductions (broker-dealer risk)
• Real cost-per-agent-acquired — nothing here is measured yet; the $5K–8K/mo marketing figure and the commission rates are both starting assumptions until it is
• Trademark clearance on "Closing Boss" and "KeyRingOS" — not run; both are fresh working names now, equally unincorporated and unlocked
• Real MLS board contacted for actual IDX approval turnaround
• BoldTrail / Luxury Presence pricing — still unpublished; only third-party estimates exist
• Decided — the e-signature engine is built in-house, not routed through a vendor (Dropbox Sign, DocuSign, SignWell). No per-envelope vendor fee, ever — but it also means Closing Boss, not a vendor's pre-built compliance layer, is legally responsible for getting ESIGN Act/UETA consent and audit-trail requirements right (spec.html §03). Legal review of that implementation is still open, and the AI field-detection cost per document isn't priced into §09 yet
• No repo, no Supabase project, no Render service
• Full specification — data model, roles, brand, architecture, wireframes — not started